CNN is reporting that Facebook has acquired Gowalla, the Foursquare competitor that transformed itself into a storytelling app several months ago. The team will start working on Timeline, the soon-to-be-launched update to Facebook Profiles.

The acquisition makes perfect sense in my mind. Facebook Timeline is about telling the story of your life. Gowalla is a mobile app focused on telling the story of your travels. Integration of Gowalla’s technology into the Facebook mobile app will make it possible to better chronicle your life story via mobile.

My guess is that Facebook didn’t have to pay a high price for Gowalla. The company failed as a direct competitor to Foursquare and, from what I can tell, its user growth was stagnant.

Still, Gowalla is a beautiful app with good technology. Congrats to Josh Williams and his team on the acquisition.

This is a great move since the company has been trying to make sure that Timeline become a reality. I don’t even know what comes out of the case between Facebook and Timeline, the official trademark owner of “Timeline”. Please share

Rapjr

It will spell the end of a game on FB,its called Packrat also owned the DEVS of Gowalla,i can see why FB are taking 30% of moneys spent on game apps.